BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  C2C Services & Suppliers™
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

Genentech (RHHBY) Grabs Afraxis, Inc. Compound Rights for Up to $187.5 Million


1/29/2013 6:59:58 AM

SAN DIEGO, Jan. 29, 2013 /PRNewswire/ -- Afraxis, Inc. today announced that it has entered into a global licensing agreement with Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY), to develop compounds for an undisclosed novel target. Under the terms of the agreement, Genentech will have exclusive, worldwide rights to develop and commercialize Afraxis' proprietary compounds. Afraxis is eligible to receive upfront, research, development and commercialization milestone payments, together totaling up to $187.5 million. Full financial terms have not been disclosed.

"Afraxis has secured this relationship with Genentech only five years after founding the company as part of Avalon's life sciences portfolio," said Jay Lichter, Ph.D., president and CEO of Afraxis, and managing partner of Avalon Ventures. "Avalon's approach to investing in companies at the earliest stages and staying actively involved in company management is proving to be a successful strategy for life science investing."

About Afraxis, Inc.

Afraxis, Inc. is a San Diego-based biotechnology company fully funded by Avalon Ventures.

For more information visit the Afraxis Web site: www.afraxis.com

SOURCE Afraxis, Inc.


Read at BioSpace.com


   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->